The Presidents of Great Southern Bank

On March 1st, 1923, four men came together to create the Great Southern Savings and Loan Association. Ralph M. Mack, J. Wyman Hogg, Orvan Picket, and John P. McNiel came into the business venture with a small $5,000 investment. They hoped to help develop and grow the Springfield, MO area.

Ralph M. Mack (1923-1951)

Great Southern Savings and Loan’s first president was co-founder, Ralph M. Mack. Mack was the first developer of Brentwood, which became the earliest large residential subdivision and is still prevalent in the Springfield community today.

On October 29, 1929, the day infamously known as Black Tuesday, the Great Depression took hold of the country, merely six years after the founding of Great Southern. The stock market volume lost 12% of its value in one day.

When J. Wyman Hogg reflected on that time in Springfield in a discussion from 1979, he said many financial institutions struggled during this time as many Springfieldians hurriedly withdrew their savings from financial institutions. When the banking structure nearly collapsed, many banks across the country closed during the early 1930s.

“In spite of the troubles, most of them came through,” Hogg said of local financial institutions. “They survived because of their innate structure.”

Captaining Great Southern through the Great Depression and through the struggles of World War II, Mack served as Great Southern’s president until he retired in 1951. He ended his presidency with Great Southern having over $2 million in total assets.

John P. McNeil (1951-1954)

In 1951, John P. McNeil, vice president of Great Southern since its founding, stepped up to the plate as the Company’s second President. During his presidency, Great Southern’s total assets rose to almost $3.5 million. Sadly, he passed away just a few short years later in 1954.

Russell S. Cather (1954-1974)

Picking up the mantle for McNeil, Russell S. Cather pioneered a new era for Great Southern when he became the Company’s third president in 1954. Having been with Great Southern since 1923, he had been with the company through turbulent times, and had big plans for how he wanted it to grow. He converted the Great Southern Loan and Association’s facility at 331 South Avenue into a drive-up facility.

Throughout his time, Russell was determined for Great Southern to become the number one local financial association.

Russell Cather told the Springfield Leader and Press that he preferred to think of Great Southern as a service organization rather than a savings and loan association. His desire was to directly benefit the public through financial means. Cather passed away on March 29, 1974. By the end of Cather’s presidency, Great Southern’s total assets grew to $50 million.

William Turner (1974-1999)

In 1974, William Turner joined Great Southern Savings and Loan Associations as the Company’s fourth president and CEO.

Turner came to the Company with a new operating philosophy and a philanthropic spirit. His personal mantra was “Quality Service Without Compromise.” He was known in the local banking community for his willingness to see non-traditional ways of serving customers. Under his leadership, Great Southern was transformed from a small savings and loan association serving primarily the Springfield market into a dominant regional financial company.

During the 1970s, the U.S. experienced a period of high inflation rates, high unemployment rates, and slow economic growth. This led to less individuals applying for mortgages – directly impacting S&Ls during the 1980s, with nearly one in three S&L’s failing in what’s known as the S&L crisis. Due to the crisis for S&Ls, Great Southern was determined to do something different.

In 1990, due to deregulations of the banking industry, Great Southern Savings and Loan Association transformed into Great Southern Savings Bank. During this time, Great Southern added the sun to its logo, as a reminder to aim for a bright future. The name change signaled an emphasis on helping businesses and individuals alike. In 1991, Great Southern Savings Bank made its final name change into Great Southern Bank.

William Turner’s contributions as a business leader and community leader have been widely recognized through several awards. Some of these include the Springfieldian Award, Civic Contributor Award, Faurot Fellow Award, and several others.

By the end of William Turner’s presidency in 1999, Great Southern Bank had 27 banking centers and $836 million in total assets. William Turner still continues to serve on the Board of Directors for Great Southern Bank as Chairman of the Board.

Joseph Turner 1999-Current

President Joseph W. Turner was promoted to Chief Executive Officer and president of Great Southern Bank in 1999, making him the fifth president. Joe Turner started as an intern in 1985 and proceeded to work in several different departments before becoming president.

At the beginning of Joseph Turner’s presidency, the turn of the millennia was a strong one. From 2000-2007, Great Southern Savings Bank’s assets more than doubled and established three more loan production offices during this period in Kansas City, NW Arkansas, and St. Louis.

The Great Recession in 2008 posed a significant threat to many financial institutions, and many banks were forced to shrink or close. But, with the Board of Directors’ and Joseph Turner’s leadership, the year after the Great Recession led to game-changing growth for Great Southern. From 2009 to 2015, Great Southern acquired five banks through FDIC-assisted acquisitions, expanding the footprint into Iowa, Kansas, Minnesota and Nebraska, and purchased a total of 12 branch offices and deposits in Missouri from two financial institutions. During this time, Great Southern welcomed thousands of new customers wonderful associates, and introduced themselves to many new communities.

Thanks to the leadership and fortitude of Great Southern Bank’s presidents, the company now serves more than 134,000 households across 13 states, and has more than 1,100 dedicated associates. Great Southern Bank has a determined dedication to its associates, its customers, and its communities.

While we celebrate our centennial, we are humbled by the opportunity to remember our history. This year, we are remembering our roots. Where we’ve been, the challenges we’ve faced, and those that helped us reach this point. And we look to the future with optimism. To each Great Southern associate, customer, and community, thank you for allowing us to be a beacon of stability for 100 years – and counting.